Economic and technical study of carbon dioxide reduction technologies
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In a carbon-constrained economy, the decision making process for selecting carbon reducing technologies for existing single power plants, portfolios of power plants, or new power plant technologies must incorporate the monetary impact of reducing CO2 emissions. Cost of electricity and the monetary impacts of reducing criteria pollutants primarily drive power plant decisions. For example, a gas turbine power plant may upgrade its combustion system to a Dry Low NOx combustor if regulations require or provide incentives for reduced NOx emissions. Similarly, in a carbon-constrained economy, the CO2 emissions strategy selected may impact the operating profile and or equipment of the power plant. Given the wide array of CO2 mitigation strategies available for power plants, robust guidelines are needed to consistently compare varying strategies. The purpose of this study is to provide guidelines for comparing currently available and near-term CO2 mitigation strategies, while also providing guidelines for comparing new low CO2 emission technologies. Furthermore, the issue of making a decision for a portfolio of power plants versus a single plant will be explored along with fuel price sensitivity and CO2 credit trading.